Premium Brands Holdings Co. (TSE:PBH) Forecasted to Earn Q1 2024 Earnings of $0.68 Per Share

Premium Brands Holdings Co. (TSE:PBH) – Equities researchers at Pi Financial issued their Q1 2024 earnings estimates for Premium Brands in a research report issued to clients and investors on Tuesday, April 16th. Pi Financial analyst D. Schilling forecasts that the company will post earnings of $0.68 per share for the quarter. Pi Financial has a “Buy” rating and a $112.00 price objective on the stock. The consensus estimate for Premium Brands’ current full-year earnings is $4.84 per share. Pi Financial also issued estimates for Premium Brands’ FY2024 earnings at $5.24 EPS and FY2025 earnings at $6.21 EPS.

Premium Brands (TSE:PBH) last issued its quarterly earnings results on Friday, March 15th. The company reported C$0.85 EPS for the quarter, missing the consensus estimate of C$1.13 by C($0.28). Premium Brands had a return on equity of 5.26% and a net margin of 1.50%. The business had revenue of C$1.55 billion during the quarter, compared to the consensus estimate of C$1.61 billion.

Other equities research analysts have also recently issued reports about the stock. TD Securities dropped their price target on shares of Premium Brands from C$130.00 to C$120.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. BMO Capital Markets dropped their price target on shares of Premium Brands from C$117.00 to C$115.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. CIBC cut their price objective on Premium Brands from C$102.00 to C$97.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Royal Bank of Canada cut their price objective on Premium Brands from C$103.00 to C$99.00 and set a “sector perform” rating on the stock in a report on Monday, March 18th. Finally, Stifel Nicolaus cut their price objective on Premium Brands from C$108.00 to C$104.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$111.60.

Premium Brands Price Performance

Shares of Premium Brands stock opened at C$87.78 on Thursday. The company has a current ratio of 2.08, a quick ratio of 1.16 and a debt-to-equity ratio of 149.12. The company’s 50-day moving average price is C$89.05 and its two-hundred day moving average price is C$91.41. Premium Brands has a 52 week low of C$84.66 and a 52 week high of C$113.60. The stock has a market cap of C$3.90 billion, a PE ratio of 41.60, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Premium Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.85 dividend. This is an increase from Premium Brands’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.87%. Premium Brands’s dividend payout ratio is currently 161.14%.

Premium Brands Company Profile

Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates in two segments, Specialty Foods and Premium Food Distribution. The company provides processed meat, deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, entrees, panini, wraps, subs, hamburgers, burgers, salads and kettle products, muffins, breads, pastas, pizza, and baking and sushi products.